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Fly News Breaks for December 12, 2018
WAT
Dec 12, 2018 | 06:58 EDT
JPMorgan analyst Tycho Peterson downgraded Waters to Underweight and lowered his price target for the shares to $180 from $185. The company's decelerating organic growth trends in 2018 are "clearly disappointing," and while 2019 should see an improvement as transient headwinds fade and new products like Bio-TOF ramp, the current valuation is "rich," Peterson tells investors in a research note. He points to Waters' "subpar" growth profile, low visibility on a path to sustainable reacceleration, and limited room for margin expansion.
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